The United Arab Emirates has been trying to get foreign investors’ attention in various ways. One way is advertising buying properties in Dubai for Bitcoin, Ethereum and other cryptocurrencies. Apartments in Dubai are a popular investment choice. International buyers are interested in property not only for permanent residence in Dubai or seasonal recreation but also as an investment. Buying real estate in Dubai with BTC, Ethereum, and other digital currencies allows you to invest in real estate with cryptocurrency without extra costs that go to commission payments. Realtors and developers accept these digital currencies. This means you can find a house in any part of Dubai as part of your investment strategy.
Buying real estate in Dubai, UAE with cryptocurrency
A feature of any digital currency is that it’s highly volatile. If the value of your assets drop or you lose funds, this can prevent you from investing in real estate. Investing in a house or apartment is a good choice because it can save money and also bring in a stable income from renting the housing out. A blockchain system is created to use cryptocurrency funds. Payment is made using Bitcoin and other cryptocurrencies. There’s been an interest in cryptocurrency-based transactions in the UAE since 2017-2018 when the value of Bitcoin grew the most. It‘s still one of the most well-known and sought-after digital currencies. You can buy real estate in Dubai with BTC, Ethereum and Ripple by XRP. Some advantages of cryptocurrency are:
- Quick purchase and payment processing;
- Using cryptocurrency to buy real estate in Dubai is secure because all transaction data is protected;
- Can make large payments easily;
- Low fees for transactions.
This process is legal and regulated by law.
Property in Dubai with bitcoin
Buying real estate using cryptocurrency isn’t different from a transaction with cash or credit. You just need to contact an agency to help select your perfect home; does it meet your requirements for location, area, and price? After the buyer agrees, the house or apartment is booked and the digital currency is exchanged for money through exchangers. The process is transparent and risk-free. There’s no middle-man in this process so it easily allows a foreigner to purchase housing in Dubai for cryptocurrency and avoid added costs. Many developers use this payment system. Emaar Properties, Select Group, and Fam Properties are the largest developers that do. They can help you choose new buildings in Dubai in all popular metropolitan areas.
The Dubai Land Department uses the blockchain system. It records the data about the owner of the currency. The electronic payment process is completely secure and only takes several minutes. Digital transactions protect your personal information. While this happens, contracts are registered. This means the sale and purchase process is state-controlled and safe for everyone involved in the transaction. You can send a payment from anywhere in the world to buy Dubai real estate with bitcoin cryptocurrency. You can apartments or houses in Dubai without going abroad.
The transaction is similar to the traditional process with only a few differences:
- The buyer transfers the cryptocurrency to the trading company;
- The buyer pays the commission and gets a receipt with the amount in local currency (AED) to transfer funds to the seller’s account or construction company.
The buyer must have an electronic wallet. It’s used to complete the transaction and obtain a Title Deed. Regardless of how payment is made, there’s a mandatory state fee of 4% of the cost of housing when you receive the deed.
Buying a Property in Dubai with cryptocurrency
The cost of property in Dubai with BTC is calculated at the rate of AED. Conversion to the UAE currency is mandatory and is done at the current exchange rate. This has to be done for the settlement requirements of the Central Bank of the UAE. Buying off-plan real estate is the most common. Off-plan housing prices save you up to 30% during commissioning. Large developers offer liquid and profitable housing that will bring a stable profit. Real estate prices in Bitcoin, Ethereum and other cryptocurrencies are several percent lower due to reduced commission fees.
Investing cryptocurrency in property in Dubai
Investing in real estate is profitable for many reasons:
- Affordable property prices in Dubai with bitcoin and cryptocurrency compared to similar properties in resort areas and megacities in European countries;
- High yield of 10% per annum in some areas;
- Capitalization of value. Foreign property prices in Dubai with Bitcoin, Ethereum, and other cryptocurrencies are rising due to growing demand;
- Legal income without tax obligations. In the UAE, you can rent out an apartment legally to earn a net profit.
Popular areas in Dubai
Housing in Dubai Marina is in demand. It’s popular with tourists so rental housing is in high demand throughout the year. Connoisseurs of comfort and luxury can choose luxury properties for sale in Dubai using cryptocurrency such as Bitcoin or Ethereum on Palm Jumeirah. Even though prices can be high, the demand for housing in this area is always high. Downtown Dubai, Dubai Hills, and Business Bay also attract investors. Many buyers prefer properties in well-known residential complexes. Burj Khalifa and Emaar Beachfront are large residential complexes or districts.
We will help you buy real estate for cryptocurrency in Dubai
A licensed real estate agent will help you choose a liquid and profitable property in Dubai. Specialists are ready to advise you about buying a property in Dubai with Bitcoin. Let the experts guide you in making the best decision and transferring funds the right way.